How Well Do You Know Your Employees?
As we continue to adjust to a changing workplace, employers need to be especially mindful of their employees’ needs and desires. Change is never easy, and the workplace has undergone some seismic shifts and disruptions. It may be beneficial to reflect on just what your employees value the most in their employment situations. Many employers are discovering that it’s a lot more than offering free coffee and snacks.
What Workers Are Looking for in 2024
According to Inc. Magazine, today’s workers are seeking work-related benefits that enhance their lifestyle and family needs the most. These benefits include extended health coverage, flexible work hours, remote work opportunity, and paid time off.
So how do these benefits impact recruitment and retention of employee talent? Inc. looked at the top-ranked benefits that employees want in 2024 that would ensure employee retention and the ability to recruit talent over the competition.
Extended health coverage
Comprehensive extended health coverage is easily the most sought-after benefit in 2024. This one consistently ranks near the top of the list, as it can save an employee thousands of dollars in healthcare costs.
The most popular key coverage areas are:
- Prescription drug coverage
- Hospital stays: semi-private or private room
- Vision coverage
- Dental coverage
- Emergency medical travel coverage
- Medical supplies and equipment
- Chiropractor
- Physiotherapist
- Massage therapy
Paid time off
Beyond being a basic expectation, offering paid time off demonstrates a company's commitment to employee well-being, work-life balance, and mental health support. In today's fast-paced world, where burnout and stress are prevalent, providing ample paid leave allows employees to recharge, rejuvenate, and return to work with renewed focus and productivity. Essentially, paid days off are not just a benefit; they're a strategic investment in both the individual and the overall success of the organization.
Remote work and flexible hours
Employers should be encouraged to offer remote, hybrid, or flexible hours whenever possible. Not only does it give employees more control over their schedule, but it can also help them save on expenses such as commuting. The Covid-19 pandemic revealed the many incentives of working from home, and employees aren't ready to give up on the more desirable working arrangement.
Identify benefits in the job listing
Clearly delineating your company's benefit package in job postings serves as a powerful attraction for top talent. By prominently featuring benefits such as paid time off, health insurance, remote work, and flexible hours, employers signal their commitment to employee satisfaction and fulfillment. Publicizing your comprehensive benefit package not only attracts top talent but also ensures a better fit, fostering long-term success and synergy within the workforce.
Employees Want to Be Appreciated
Employees today don’t want to simply collect a paycheck—they want to work somewhere they feel welcome and appreciated and at a place they believe shares their values. Our technology-based fully integrated recognition system will motivate your individuals and teams, improve your culture, and increase your productivity. Your employees deserve it.
